The deal looked set to be concluded smoothly until Tuesday evening, when the Liverpool board unexpectedly asked for more time to consider a rival bid by Gillett.

Bully tactics

DIC's planned takeover of Liverpool collapsed because the board was not prepared to accept "bullying", Parry said.

The move worries some Liverpool fans who were convinced the Dubai bid would bring in new owners with a respect for the club's traditions but feel the same can't said for the Gillett bid.

But Parry used an interview with local newspaper the Liverpool Echo on Thursday to insist that Gillett's initial offer deserved serious consideration.

"The overriding message is: Don't worry," Parry said.

"Whatever decision is finally taken will be done so in the best interests of Liverpool Football Club."

David Moores, the club chairman, who owns 51 per cent of the club, asked DIC for more time to mull over his decision.

"The DIC response to this was to give the club 12 hours to make a decision, but the chairman was not prepared to have Liverpool Football Club bullied like that," Parry said.

Rick Parry, left, and David Moores have had many offers for the club [GALLO/GETTY]

"This is not a question of going for the second choice," he added.

"David has always given George Gillett serious consideration while at the same time we didn't want to rush into any decision, and we were aware DIC might walk away."

Home comfort

Some fans have worried about the foreign source of investment into the club. Gillett's business empire collapsed in 1992 with debts of $1 billion and a personal bankruptcy of almost $70 million according to some sources.

But Liverpool fans may be comforted to know that half the finance behind the Hicks-Gillett proposed takeover owns household names on their table such as Branston Pickle, Crosse & Blackwell, Rowntree's Jelly and Sarson's Vinegar.

Hicks, founded the company Hicks Muse, now known as HM Capital, which bought the well-known brands, familiar to many Liverpudlians.

The 60-year-old paid $250 million for the Texas Rangers when he bought the American League club in 1998, who were once owned by George Bush, the US president.

If the bid is accepted, Hicks and Gillett would become the third and fourth US owners of a Premiership team.